Higher costs clip FMC Gold earnings
Despite increased production and higher gold prices, FMC Gold’s (NYSE) third- quarter net income of US$10.9 million was slightly lower than the US$11.6 million reported in the 1989 third quarter. Sale…
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Metalore shares fall $6
The common shares of Metalore Resources (TSE) have fallen by $6 to $13 since the company went to court on Sept. 4 against Ontex Resources (ASE) in a trial over the Brookbank gold deposit in northern O…
Platinum at the heart of metals used in medicine
From time to time, I have written with enthusiasm about the wide applications of platinum group metals, including specific applications in medicine, which embraces chemotherapeutic agents and dramatic…
Underground drilling confirms continuity at Duquesne project
The latest results from an underground drilling program at the old Duquesne gold mine project north of Rouyn-Noranda, Que., confirm the continuity to the west of the main mineralized zones between the…
Platinova, Corona analyzing results of Greenland work
Joint venture partners Platinova Resources (TSE) and Corona (TSE) are analyzing the final results from a recently completed $2.2-million exploration program at their Skaergaard gold-platinum project i…
Executive shuffle at Noranda Minerals
Keith Hendrick will step down from his position as president and chief executive officer of Noranda Minerals as part of a recently announced executive shuffle. Alex Balogh, 58, has been chosen to succ…
Drilling continues at Golden Bear
A recent drill program on the Golden Bear property in northwestern British Columbia is focused on testing for extensions of known mine reserves. The gold mine project is a joint venture between Chevro…
OMIP changes prompt flood of applications
Ontario mining companies have rushed in to take advantage of exploration grants provided under the recently amended Ontario Mineral Incentive Program (OMIP). Since the amendments took effect in Septem…
Montrose drill cuts weak gold zones
A 3-hole drill program on Montrose Gold Resources’ (COATS) property near Matachewan, Ont., has intersected some weak gold mineralization. The first hole returned the highest gold values including an a…
Copper-gold reserves jump at Expo property deposit
An independent engineering report from Steffen, Robinson, Kirsten has increased the preliminary reserves of the Expo property’s Hushamu deposit to 456 million tons grading 0.26% copper and 0.01 oz. go…
MinVen Gold refinances
The president of MinVen Gold (TSE) recently announced details of plans to refinance amounts outstanding under its US$14.5 million bank line of credit. The company’s principal lender, Citibank, agreed …
Inspiration’s revenue up, earnings down
Strong copper prices and higher production from the Namew Lake operation in Manitoba failed to improve the financial fortunes of New York-based Inspiration Resources (NYSE) and wholly owned subsidiary…